Despite Bear Market, 40% of Chinese are Willing to Invest in Cryptocurrencies

Out of 4,200 valid questionnaires received after a survey in China, 40 percent respondents said they are willing to invest in cryptocurrencies. The survey which lasted for 14 days revealed that most people have heard of terms relating to the industry such as Blockchain, Bitcoin, Token, and Cryptocurrency.

Determining People’s Knowledge in Cryptocurrency

A Chinese media outlet carried out a poll on November 26 which was concluded on December 10. The aim of the study was to ascertain the level of people’s knowledge when it comes to the area of cryptocurrency. Therefore, 98.22 percent of participants in one way or the other, have heard of the term cryptocurrency or Blockchain.
A closer look at the results generated shows that only 22.2 percent have heard of the word Token, while 50 percent are familiar with the terms Bitcoin, digital currency, and cryptocurrency. It appears that these people are not familiar with Bitcoin due to the low responses it received. Blockchain, on the other hand, also gained favoritism because 42.3 percent of respondents said they have heard of it.

People’s Willingness to Buy Cryptocurrencies

Out of 598 respondents who said they have bought cryptocurrency in the past, 60.54 percent fell between the ages of 19 to 28. Reports reveal that they had invested about 10,000 to 100,000 yuan ($1,450-$14,500) in these digital assets. These people are also willing to invest in future and according to them, they are easily swayed by cryptocurrency news.
However, 58.85 percent of respondents did not fail to outline the fact that they are reluctant to invest in virtual currencies. They attributed it to the difficulties involved in setting up wallets for storing these digital assets. The same was said about the complex nature of some cryptocurrency exchanges where these assets will be traded.

Surveys Reveal Investors High-Level Interest in Cryptocurrency

BTCNN reported on December 21 that eToro, a global investment platform had carried out a survey whose result shows that a large number of people are willing to learn about cryptocurrency. Out of 1,000 people that were surveyed, some attributed their lack of interest to the limited amount of information they have, the market’s volatility, and even the fear of getting scammed.
In the same vein, the Bank of England on December 21 to 23 performed a study to ascertain how people will like to receive their monetary Christmas gift. While some people opted for gift cards, bank transfer, and a gift voucher, most people said they will rather settle for the cryptocurrency. Specifically, they wanted to be gifted with Bitcoin, Ripple, Gemini, amongst others.

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